BTCUSD IS READY TO FLY MUST READ THE CAPTION

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This chart represents the Bitcoin (BTC) price movement against the US Dollar (USD) on a 1-hour timeframe. Here's a breakdown:

1. Trend Analysis:

The chart initially shows an ascending channel marked by green and gray lines, where Bitcoin's price moves upward.

After reaching a peak, there is a sharp bearish correction, as indicated by the steep downward movement.



2. Key Levels:

Stop Loss: Marked below the current price near 93,192, this is the level where traders would close their position to limit losses.

Target Zone: Two key target levels are marked for potential price increases:

98,067 (first target level)

100,597 (second target level)




3. Trading Plan:

A reversal scenario is depicted with upward yellow arrows, suggesting a potential recovery or bullish bounce from the current price.

Green arrows highlight areas of potential buying interest or price support.



4. Indicators:

Heikin Ashi candles are used to smooth out price movements, making trends clearer.

Red and green markers indicate resistance (red arrows) and support (green arrows) areas.




The trader's strategy appears to involve entering a buy position at the current level, with the stop loss in place to manage risk and targeting higher levels near 98,067 and 100,597 for profit.

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Uwaga

40 pips running

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Uwaga

Hold